BlackRock Private Credit Fund’s Monthly Distributions Dip 0.51%

BlackRock Private Credit Fund, a non-traded business development company that became effective in May 2022, declared October 2025 gross distributions of $0.1966, a 0.51% decrease from September’s $0.1976.

The distributions will be payable to shareholders of record at the close of business on Oct. 30, and will be paid on Nov. 26. The distribution will be paid in cash or reinvested in fund shares for shareholders participating in the fund’s distribution reinvestment plan.

The net asset value per share of each class of shares of the fund – Class S and Class D – was $24.07 as of Sept. 30, a 0.52% decrease from Aug. 31’s $24.1966.

Earlier in October, the BDC also known as BDEBT raised $200 million through a private placement of senior unsecured notes to qualified institutional investors. This capital infusion, executed through a first supplement to its master note purchase agreement, is intended to fuel the fund’s general corporate needs, including making new investments and managing existing debt.

The debt is being issued in two parts. The larger portion, $150 million of Tranche B notes, bearing a 6.14% annual interest rate and maturing in October 2030, closed on Oct. 8, 2025. The remaining $50 million, or Tranche A notes, will carry a 5.78% interest rate, mature in December 2028, and are scheduled to be issued at a closing expected on Dec. 17. Interest on both tranches will be paid to investors semi-annually.

The notes are considered general unsecured obligations of the company, ranking equally with the fund’s other existing and future unsecured, unsubordinated debt. They will also be guaranteed by certain domestic subsidiaries of the company.

The BlackRock fund has the right to redeem the notes at its option, in whole or in part, at par plus accrued interest and a potential make-whole premium. Furthermore, it is obligated to offer to prepay the notes at par should certain change-in-control events occur.

To protect investors, the purchase agreement contains customary terms and conditions for private debt placements. These include affirmative and negative covenants requiring the company to maintain its status as both a BDC and a regulated investment company. Financial maintenance covenants include a strict minimum asset coverage ratio of 1.50 to 1.00 and a floor for minimum shareholders’ equity, ensuring the fund maintains a robust financial base.

BDEBT seeks to target attractive risk-adjusted returns produced primarily from current income generated by investing primarily in directly originated, senior secured corporate debt investments. As of Sept. 30, 2025, the BDC reported a year-to-date total return of 5.4%, a distribution rate of 9.85%, and $2.14 billion in assets.

Recent coverage by AltsWire of other BlackRock activities includes the following.

• Earlier this year, AltsWirereported that BlackRock Inc. (NYSE:BLK) had successfully completed its acquisition of HPS, formerly known as HPS Investment Partners. Following the all-stock deal valued at approximately $12 billion, HPS Corporate Lending Fund – a perpetual-life, non-traded BDC sponsored by HPS – appointed Eric Smith as the new chief compliance officer.
• Also, BlackRock completed its acquisition of ElmTree Funds, a private equity net-lease real estate investment firm with $7.3 billion in total assets under management as of March 31, 2025. James Koman is continuing to lead the ElmTree investment strategies as part of PFS.

BlackRock is the world’s largest asset manager with approximately $13.5 trillion in assets.

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